Brunel Q1 operating profit falls on higher costs

AMSTERDAM Wed May 22, 2013 2:18am EDT

AMSTERDAM May 22 (Reuters) - Dutch specialist staffing firm Brunel said on Wednesday first-quarter earnings before interest and taxes (EBIT) fell 35 percent to 13.5 million euros ($17.4 million), citing higher costs and squeezed margins.

Quarterly revenue rose 3 percent to 296.2 million euros, driven by demand for staff in the oil and energy sector. The company did not give a full-year outlook.

Brunel reported in March that it had found its financial results were overstated in the Americas in 2011 and 2012, forcing it to adjust its results in the fourth quarter.